General Projects and neo capital have acquired Liverpool’s Royal Albert Dock for a price in the region of £40m.
The 375,000 sq ft dock, which opened in the 1840s, offers F&B, retail, hotel and office space within four landmark heritage buildings.
The dock attracts around six million visitors per year and General Projects said it intends to implement a strategy of “creative activations and public realm improvements to enhance the site’s public offer and enable it to reach its full potential”.
Jacob Loftus, CEO of General Projects, said: “We are truly honoured to have become custodians of one of our country’s most significant landmarks and one of its most magnificent examples of industrial heritage.
“Already one of the busiest leisure and cultural destinations in England, we hope to add our energy and creativity to further evolve the dock into the most exciting experiential and authentic destination in the UK. We look forward to nurturing the many exciting independent businesses on site, working collaboratively with our cultural neighbours and further activating Liverpool’s amazing waterfront.
“Through further investments in public realm, activation and events, we hope to create a true community spirit and deliver a place that will benefit the entire city and really promote the absolute best of Liverpool.”
A representative from neo capital added: “We are excited to acquire alongside our partner General Projects a landmark site in the city of Liverpool, the Royal Albert Docks. This acquisition is a testament to our confidence in the UK real estate market and an important milestone to investing in high quality projects.”
Metis Real Estate advised General Projects on the acquisition.
